Gold And Silver Technical Overview On Recovering DXY
FxGrow | Feb 08, 2018 06:07AM ET
GOLD SPOT TECHNICAL SUMMARY:
- Closing price: 1318.30
- Target price: 1304.00
- Resistance: 1320.50, 1325.20*, 1333.30*
- Support: 1304.00+/-
- Trend: Down
- Trend reversal price: 1333.30 daily close
- Comment The market is triggering a short term peaking turn and projects selloffs to 1304.00-. A close under 1304.00 is bearish. The downside momentum of selloffs should check any retracements against 1325.20* and use congestion to bear flag. A close over 1333.30* is needed to signal a short term turnaround.
SILVER SPOT TECHNICAL OVERVIEW:
- Closing price: (16.38)
- Target price: 16.365 ACHD
- Resistance: 16.38+/-, 16.60*, 16.72*
- Support:
- 16.18, 16.08, 15.85-
- Trend: Down daily
- Trend reversal price: 16.70
- Comment: The market is bearish and yesterday's weak close alerts for additional selloffs that could stretch to 15.85. Trade is poised for continuation selloffs and any corrections trapped under 16.60* will maintain bear forces. A close over 16.72* is needed to stop / reverse out of the selloff.
US Dollar or DXY SUMMARY:
- Closing price: (90.165)
- Target price: 9074
- Resistance: 90.74*, 91.00+/-, 91.41
- Support: 89.83, 89.55, 89.025*
- Trend: Sdwys/Up Daily
- Trend reversal price: 89.025 daily close
- Comment The market is showing a short term friendly upturn and projects a climb to challenge 9074* resistance for a stronger advance. A close over 90.74* targets moves near 91.41. Be careful for a setback from 90.74* that could trigger a few flagging consolidation days. However, only a close under 89025* rekindles bear trend forces.
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